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Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:
QuantityUnit CostTotal Cost
Beginning inventory (Jan. 1) 23 $14 $322
Purchase (Jan. 11) 15 $20 300
Purchase (Jan. 20) 26 $22 572
Total 64 $1,194
Question 1: Assuming that Beech Soda uses the FIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is?
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